Why Is Selling Concept Important?

What is difference between marketing concept and selling concept?

The marketing concept concentrates on the buyer’s needs and then the means are identified to meet out those needs.

Therefore, the customer is regarded as the king of the market.

On the other hand, selling concept stresses on the needs of the seller and so, it is the seller who rules the market..

What are the steps to selling?

Steps to sellingFind customers. Research your potential customer base. … Plan your approach. Review information you have gathered about your customers and their needs. … Make initial contact. … Identify specific customer needs. … Select the appropriate product or service. … Make the sales presentation. … Handle objections. … Close the sale.More items…•

What is selling concept in marketing with example?

Examples of companies that use the selling concept are life insurance and timeshare companies. Salespeople in these industries research their target demographic and focus their advertising and promotion on the results of that research to sell as many units of a product as they can to increase profits.

Why is selling important to an organization?

Sales play a key role in the building of loyalty and trust between customer and business. … During sales interactions, encouraging the customer to recommend a friend or give positive feedback can have an impact on the growth of the business through increased brand awareness and sales.

What are the 7 steps of selling?

The 7-step sales processProspecting.Preparation.Approach.Presentation.Handling objections.Closing.Follow-up.

What are the 5 steps of selling?

The 5-Step Selling ModelSTEP 1: MEETING AND GREETING CUSTOMERS. Approach. Acknowledge. Building rapport. … STEP 2: UNDERSTANDING NEEDS. Qualifications/qualify. Listen. Consult. … STEP 3: DEMONSTRATING PRODUCTS AND/OR SERVICES. Explanation. Show. … STEP 4: SUMMARISING AND RECOMMENDING. Summarise. Satisfy needs. … STEP 5: CLOSING THE SALE. Place order. Invite purchase.

What are the process of selling?

Some of the Important Steps Involved in Selling Process are: (i) Pre-Sale Preparations (ii) Prospecting (iii) Pre-Approach (iv) Approach (v) Sales Presentation (vi) Objections (vii) Close and (viii) The Follow-up: Prospecting, Pre-approach, Approach, Presentation and Handling, Objection, Closing, Follow- up.

How do you increase sales?

9 Awesome Ways to Boost SalesFocus on the existing customers. … Learn about competitors. … Innovation and unique products. … Cultivate value. … Build a customer service approach. … Customer relations. … Promotion. … Marketing.More items…•

Why is it important to know sales and profit?

Profit equals a company’s revenues minus expenses. Earning a profit is important to a small business because profitability impacts whether a company can secure financing from a bank, attract investors to fund its operations and grow its business. Companies cannot remain in business without turning a profit.

What are the four major responsibilities for salespeople?

Salesperson Responsibilities:Greet customers.Help customers find items in the store.Check for stock at other branches or order requested stock for customers.Provide customers with information about items.Ring up purchases.Elevate complaints to management.Keep track of inventory.

What is the selling concept?

The selling concept focuses on the increase of sales whether the customer needs it or not. It also means that you want to increase the transaction of sales, instead of building a relationship with him. It’s based on the assumption that the customers would like the product if you convince them well.